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Is there a hint of policy change in the RBI Bulletin’s State of the Economy report? 

Retail inflation in the first quarter of FY24 is likely to be lower than forecast and bond markets are pricing in a shift of stance by the Monetary Policy Committee 

May 23, 2023 / 08:41 AM IST
Is there a hint of policy change in the RBI Bulletin’s State of the Economy report? 

What about the dreaded El Nino, which can throw all forecasts out of the window?

This month’s State of the Economy report, contained in the RBI Bulletin, says that inflation in the first quarter of the current fiscal year is likely to turn out to be lower than forecast. The report says that the April 2023 monetary policy statement had forecast retail inflation at 5.1 percent for the first quarter of FY24. It adds: "The CPI inflation print for April 2023 indicates that momentum is turning out to be softer than anticipated…", listing a...

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